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AI Analysis of CXW
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Corrections Corporation of America stock price up 0.197% on Monday
(Updated on May 06, 2024)

Hold candidate since Apr 24, 2024 Gain 1.12% PDF

The Corrections Corporation of America stock price gained 0.197% on the last trading day (Monday, 6th May 2024), rising from $15.26 to $15.29. During the last trading day the stock fluctuated 1.64% from a day low at $15.22 to a day high of $15.47. The price has been going up and down for this period, and there has been a 2.34% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 thousand more shares were traded than the day before. In total, 541 thousand shares were bought and sold for approximately $8.28 million.

The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.87% during the next 3 months and, with a 90% probability hold a price between $15.75 and $17.55 at the end of this 3-month period.

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CXW Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 4.01%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Corrections Corporation of America stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $15.33. On a fall, the stock will find some support from the short-term average at $15.11. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Corrections Corporation of America stock

Corrections Corporation of America finds support from accumulated volume at $15.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.250 between high and low, or 1.64%. For the last week, the stock has had daily average volatility of 2.03%.

Our recommended stop-loss: $14.48 (-5.28%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)

Trading Expectations (CXW) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Corrections Corporation of America to open at $15.33, and during the day (based on 14 day Average True Range), to move between $14.93 and $15.65, which gives a possible trading interval of +/-$0.361 (+/-2.36%) up or down from last closing price. If Corrections Corporation of America takes out the full calculated possible swing range there will be an estimated 4.72% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $15.00 (1.90%) than the resistance at $15.65 (2.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Earnings coming up

Corrections Corporation of America will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.310. We will update the financials statements for Corrections Corporation of America, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.90% in the first trading day after earnings release.

Is Corrections Corporation of America stock A Buy?

Corrections Corporation of America holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.942 Hold/Accumulate Unchanged

Predicted Opening Price for Corrections Corporation of America of Tuesday, May 7, 2024

Fair opening price May 7, 2024 Current price
$15.33 ( 0.240%) $15.29

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for CXW

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 15.58 1.87 %
R2 15.48 1.25 %
R1 15.42 0.86 %
Current price: 15.29
Support S1 15.23 -0.385 %
S2 15.17 -0.771 %
S3 15.08 -1.40 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 16.11 5.36 %
R2 15.68 2.55 %
R1 15.65 2.35 %
Current price 15.29
Support S1 15.00 -1.90%
S2 14.87 -2.75%
S3 14.84 -2.94%

CXW Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Feb 20, 2020 Mar 31, 2020 Apr 15, 2020 $0.440 3.68%
2 Dec 12, 2019 Jan 03, 2020 Jan 15, 2020 $0.440 2.68%
3 Aug 15, 2019 Sep 30, 2019 Oct 15, 2019 $0.440 2.86%
4 May 16, 2019 Jun 28, 2019 Jul 16, 2019 $0.440 2.52%
5 Feb 21, 2019 Mar 29, 2019 Apr 15, 2019 $0.440 2.14%

FAQ

What is the symbol for Corrections Corporation of America Stock and on which exchange is it traded?
The symbol for Corrections Corporation of America is CXW and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Corrections Corporation of America Stock?
Corrections Corporation of America holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

How to buy Corrections Corporation of America Stock?
Corrections Corporation of America Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Corrections Corporation of America Stock.

What's the current price of Corrections Corporation of America Stock?
As of the end of day on the May 06, 2024, the price of an Corrections Corporation of America (CXW) share was $15.29.

What is the 52-week high and low for Corrections Corporation of America Stock?
The 52-week high for Corrections Corporation of America Stock is $196.88 and the 52-week low is $155.83.

What is the market capitalization of Corrections Corporation of America Stock?
As of the May 06, 2024, the market capitalization of Corrections Corporation of America is 1.707B.

When is the next earnings date for Corrections Corporation of America?
The upcoming earnings date for Corrections Corporation of America is May 08, 2024.
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About Corrections Corporation of America

Corrections  of America CoreCivic, Inc. owns and operates partnership correctional, detention, and residential reentry facilities in the United States. It operates through three segments: CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. The company provides a range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America's recidivism crisi... CXW Profile

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